Triple-A Confirms Treasury Wallet Breach, Says Client Funds Were Not Affected After Estimated $11.8M Loss

Singapore-based crypto payments company Triple-A has confirmed that several of its operational treasury wallets were compromised in a security incident that blockchain investigators estimate resulted in approximately $11.8 million in losses.

The company said the Triple-A treasury wallet breach was limited to company-owned digital assets and did not impact customer funds, which are held separately in safeguarded accounts.

Following a brief maintenance period to secure the affected infrastructure, Triple-A confirmed that all services have been fully restored and payment processing has resumed normally.

In a statement shared by CEO Eric Barbier, the company reiterated that clients were not affected by the incident.

Client funds were not impacted. They are maintained separately in dedicated safeguarded accounts that were not exposed to the affected wallets," Barbier said. "Normal service has since been restored, and transactions are being processed as usual across all markets.

Barbier added that the financial impact is limited to Triple-A's operational accounts and will be fully absorbed through the company's treasury reserves.

On-Chain Investigators Estimate $11.8 Million in Losses

Triple-A has not disclosed the total value of the stolen assets or explained how the wallets were compromised. However, blockchain investigator Specter estimates that losses have risen to approximately $11.8 million, up from initial estimates of around $9.3 million after additional suspicious transfers were identified.

According to Specter, compromised wallets continued receiving deposits that were immediately swept by the attacker for more than 31 hours after the initial exploit.

Earlier on-chain analysis linked the incident to wallets on Ethereum, TRON, Polygon, Arbitrum, Solana and The Open Network (TON), with Bitcoin later identified among the affected networks.

Blockchain security firm PeckShield also tracked the movement of the funds, reporting that the stolen assets were consolidated into a single Ethereum wallet after being swapped across multiple blockchains.

Investigation Continues

While Triple-A has not disclosed how the attackers gained access to the affected wallets, the company said it has identified the source of the incident and is continuing its investigation with internal security teams, external cybersecurity experts, blockchain forensics specialists, and the relevant authorities, including the Singapore Police Force.

Licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, and having an In-Principle Approval (IPA) from Dubai's Virtual Assets Regulatory Authority (VARA) for Broker-Dealer Services, Triple-A provides stablecoin payment infrastructure that enables businesses to accept digital asset payments while settling in local currencies.

The company said its customer asset segregation measures ensured client funds remained protected throughout the incident.